Wednesday, June 08, 2011

How has the Obama administration contributed to this failure to achieve a robust and sustainable recovery?

Wall Street Journal:
  1. The administration's most obvious failure was its misguided fiscal policies: the cash-for-clunkers subsidy for car buyers, the tax credit for first-time home buyers, and the $830 billion "stimulus" package...

  2. A second cause of the continued economic weakness is the president's emphasis on increasing tax rates...

  3. A third problem stems from the administration's lack of an explicit plan to deal with future budget deficits and with the exploding national debt. This creates uncertainty about future tax increases and interest rates that impedes spending by households and investment by businesses...

  4. Finally, there is the administration's incoherent position on the international value of the dollar...
Read more at the The Economy Is Worse Than You Think

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